Cheniere Energy Inc.’s subsidiary Cheniere Marketing International LLP has entered into a long-term LNG purchase and sale agreement (PSA) with Korea Southern Power Co. Ltd. (KOSPO), Cheniere Energy announced in a May 16 news release.
The PSA dictates that KOSPO will purchase approximately 0.4 million tonnes per annum (mpta) of LNG from Cheniere Marketing from 2027 through 2046. This shipment will be on an ex-ship basis, meaning Cheniere Marketing will be responsible for shipping the LNG until it has arrived at port. In 2024, a smaller annual quantity of LNG will be delivered, though the release does not clarify the size of this shipment.
The approximate volumes of LNG being delivered from 2028 through 2046 will be determined following a positive final investment decision.
“This [PSA] is expected to support the SPL Expansion Project, and we are excited to build commercial momentum as the project’s development progresses,” said Jack Fusco, president and CEO of Cheniere. “This [PSA] further highlights Cheniere’s leadership in providing flexible, cleaner burning energy supply to meet both the energy security needs and environmental goals of our customers in both the short and long term.”
Cheniere Energy is an LNG producer and exporter based in the United States. KOSPO is a public energy company that, until 2002, was known as Korea Electric Power Corp.
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